Brown Limits Debit Card Fee in Reform Bill

“These fees are far higher than the actual cost of the of processing those transactions, which means small business always gets shortchanged when they accept a debit card,” he said. “It also means customers pay more at the store and more at the pump or wherever they are, whether they pay with cash or with plastic, without even being aware that method of payment determines fee rates.”

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This entry was posted on Monday, May 24th, 2010 at 7:22 pm and is filed under merchant interchange. You can follow any responses to this entry through the RSS 2.0 feed.
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WayTooHigh.com: The Credit Card Interchange Report, is edited by Mitch Goldstone, co-founder of California-based ScanMyPhotos.com, the international online photo preservation service.
Goldstone and co-owner, Carl Berman are also the lead plaintiffs and class representatives in a antitrust class-action litigation against Visa, MasterCard and major banks that was filed in 2005.
This informational web site was created to provide news and commentary updates only. None of the information posted on WayTooHigh.com is intended to constitute legal arguments; it reflects only the opinions of its co-editors and not of any other plaintiffs or other parties involved in the merchant antitrust litigation. The information is not guaranteed to be correct, complete, or current. We make no warranty, express or implied, about the accuracy or reliability of the information posted by WayTooHigh.com or at any other Web site to which this site is linked. (c) 2010